6 ms·

So what reason did they give for not wanting to do business with you any more?

thiscatis 5y ago
We're in delayed fulfilment hence some additional risk (quite some time between selling the service and delivering the service) so I get it 1. They already hold 50% (!!!) of all our revenue in reserve for 90 days for the last months (currently a couple of MILLION USD) 2. We are already in the process of moving away from Stripe but they have until now never pulled something so low. The reserves are already massively hurting us, hence moving to an actual acquiring bank but now giving us 2 days in between Christmas and NY is just insane.
- thrwn_frthr_awy 5y ago
  You didn’t actually answer op’s question. What reason did they give you? What part of the TOS did they say you are violating?
- nailer 5y ago
  So was the answer “stripe think we’re committing fraud by charging for and not delivering goods because of this delay” or something else?
  - thiscatis 5y ago
    Nope, we're in travel and hospitality (so people book early and stay later) and they don't want to bear the refund risk with Covid-19. Again, I'm not forcing Stripe to do business with us (even though we never had issues in 4 years and processed millions through them). I just want them to give us a bit more time than 48 hours to switch to another processor in between Christmas and NY.
    - csomar 5y ago
      I don't get it. Are you charging people before their stay? In most of my experiences with Booking.com or hotels themselves, I settle the bill (with my card) at the end of the stay.
      - Reason077 5y ago
        Many hotel booking sites do charge at the time of booking, particularly when the booking is heavily discounted / non-refundable.
      - refurb 5y ago
        Depends. Many sites offer non-refundable reservations for a cheaper rate. You pay when you book.
      - philliphaydon 5y ago
        booking.com always charges me before I fly. Same with agoda and another site I’ve used which name eludes me. Never had the option to pay at the hotel upon arrival.
        csomar 5y ago
        If you are using a Debit Card, the amount will be held. It looks like it’s charged (and maybe your bank doesn’t show that) but there is a difference from the seller side.
        philliphaydon 5y ago
        I don't believe that's true. Using a Credit Card funds can still be held and either released or taken at a later date. This usually happens with you rent a car and they need a security deposit. What I don't understand tho is /why/ a merchant will often accept a credit card but not a debit credit card. While there's differences in fruad protection and refunding, the main difference is debit credit card draws on funds you have while credit card supplies a line of credit to re-pay at a later date.
      - kmlx 5y ago
    - namdnay 5y ago
      I don’t get it. You’re a payment provider that is in fact just a wrapper around another payment provider?
- aembleton 5y ago
  > They already hold 50% (!!!) of all our revenue in reserve for 90 days for the last months (currently a couple of MILLION USD) So, over the last 90 days you've had $4M of revenue, or $1.3M per month. That's rather a lot less than 5-10M.

We're in delayed fulfilment hence some additional risk (quite some time between selling the service and delivering the service) so I get it 1. They already hold 50% (!!!) of all our revenue in reserve for 90 days for the last months (currently a couple of MILLION USD) 2. We are already in the process of moving away from Stripe but they have until now never pulled something so low. The reserves are already massively hurting us, hence moving to an actual acquiring bank but now giving us 2 days in between Christmas and NY is just insane.

thrwn_frthr_awy 5y ago
You didn’t actually answer op’s question. What reason did they give you? What part of the TOS did they say you are violating?
nailer 5y ago
So was the answer “stripe think we’re committing fraud by charging for and not delivering goods because of this delay” or something else?
- thiscatis 5y ago
  Nope, we're in travel and hospitality (so people book early and stay later) and they don't want to bear the refund risk with Covid-19. Again, I'm not forcing Stripe to do business with us (even though we never had issues in 4 years and processed millions through them). I just want them to give us a bit more time than 48 hours to switch to another processor in between Christmas and NY.
  - csomar 5y ago
    I don't get it. Are you charging people before their stay? In most of my experiences with Booking.com or hotels themselves, I settle the bill (with my card) at the end of the stay.
    - Reason077 5y ago
      Many hotel booking sites do charge at the time of booking, particularly when the booking is heavily discounted / non-refundable.
    - refurb 5y ago
      Depends. Many sites offer non-refundable reservations for a cheaper rate. You pay when you book.
    - philliphaydon 5y ago
      booking.com always charges me before I fly. Same with agoda and another site I’ve used which name eludes me. Never had the option to pay at the hotel upon arrival.
      - csomar 5y ago
        If you are using a Debit Card, the amount will be held. It looks like it’s charged (and maybe your bank doesn’t show that) but there is a difference from the seller side.
        philliphaydon 5y ago
        I don't believe that's true. Using a Credit Card funds can still be held and either released or taken at a later date. This usually happens with you rent a car and they need a security deposit. What I don't understand tho is /why/ a merchant will often accept a credit card but not a debit credit card. While there's differences in fruad protection and refunding, the main difference is debit credit card draws on funds you have while credit card supplies a line of credit to re-pay at a later date.
    - kmlx 5y ago
  - namdnay 5y ago
    I don’t get it. You’re a payment provider that is in fact just a wrapper around another payment provider?
aembleton 5y ago
> They already hold 50% (!!!) of all our revenue in reserve for 90 days for the last months (currently a couple of MILLION USD) So, over the last 90 days you've had $4M of revenue, or $1.3M per month. That's rather a lot less than 5-10M.